Finding Text
Criteria - The City did not submit the Federal Data Collection Form to the Federal Audit Clearinghouse for the fiscal year ended September 30, 2024, within the required 9-month timeframe. Condition - Title 2, Part 200 Section 200.512 requires auditees to submit the audit, the data collection form, and the reporting package within the earlier of 30 calendar days after the auditee receives the auditors’ report, or 9-months after the end of the audit period. Cause - Significant audit adjusting journal entries were required to fairly present the financial statements. Effect of Condition - The City was not in compliance with the above requirements. Statistical Sampling - The sample was not intended to be, and was not, a statistically valid sample. Recommendation - We recommend that significant asset and liability accounts be reconciled at yearend and ensure that the accounts have proper supporting documentation. View’s of Responsible Officials and Planned Corrective Actions - (a) Implementation Plan of Actions - The City will reconcile significant asset and liability accounts at year-end and ensure there is supporting documentation. (b) Implementation Date - This will be implemented for the year ended September 30, 2026. (c) Persons Responsible for Implementation - The Finance Director and the City Council.